SpaceX just pulled off something no company has ever done. The Elon Musk-led rocket maker raised $75 billion in its initial public offering, making it the largest IPO in history and dethroning Saudi Aramco’s 2019 record. Shares closed their first day of trading up roughly 19%, landing around $161 after pricing at $135.
The debut on June 12 valued SpaceX at approximately $1.77 to $1.8 trillion, instantly placing it among the most valuable public companies on the planet. A rocket company. Trading under the ticker SPCX on the Nasdaq.
The numbers behind the frenzy
SpaceX sold 555.6 million shares at $135 each, and the market wanted more. Retail investor orders alone exceeded $100 billion. Overall demand was reportedly several times oversubscribed.
At one point during the first trading session, shares reportedly spiked nearly 30% above the IPO price before settling back to the 19% gain at close.
